Analysis

5 Things We Learned from Da Hongfei and Erik Zhang’s Reddit AMA on Why to Buy NEO

0 Comments

There were many among the cryptocurrency community who celebrated the advent of the NEO coin in the industry – and there were many who rushed to buy NEO as it became one of the hottest new digital currencies. Last October, NEO ranked in the top ten of cryptocurrencies with a market cap that amounted to $3.4 billion market cap. By now, the figure has moved past $7.3 billion.

Starting off in 2014 as blockchain platform AntShares (ANS) by Da Hongfei and Erik Zhang and rebranded as NEO in 2017, when the NEO coin was launched, the new Chinese entry in the cryptocurrency industry has turned quite a few heads. This has led to many questions from supporters who might be skeptical as to whether to buy NEO, especially with regard to operational transparency and funding. Founders Hongfei and Zhang decided to hold an AMA (Ask Me Anything) on Reddit a couple of weeks ago and clarify some issues. Here is what we learned.

1. NEO is Not Clashing with Onchain and ONT

lightbulb
Hongfei says he has “no plans” of leaving NEO.

Da Hongfei is also involved in Ontology and Onchain, and there were several rumors within the community of people eager to buy NEO that he had left the project for good. In response, Hongfei unequivocally stated that he has “no plans” of leaving NEO.

2. Da Hongfei is Still On Board

With regard to that same concern, Hongfei also clarified that the two projects are completely independent in their funding and management and not competing. While NEO is basically a smart contract platform, ONT is mainly focusing on data exchange.

3. NEO Aims at Transparency

One of the biggest concerns among investors looking to buy NEO is a perceived lack of transparency with regard to how funds are being invested. Erik Zhang tried to put the rumors to rest, stressing that they are only spending money on the development of the project. Hongfei chimed in to add that transparency is one of their key priorities for late 2018, which will potentially appeal to those who want to buy NEO.

4. NEO is Looking for Marketing Professionals

NEO is looking for marketing talent
NEO is looking for marketing talent

Responding to a user’s question, Hongfei confirmed that NEO is reviewing its marketing approach. He then reached out to “marketing talents” eager to work for NEO – and even provided an email address for potential candidates.

5. NEO Will Top Blockchain World by 2020

Zhang clarified that NEO is set on becoming the No. 1 blockchain by delivering services to large-scale commercial apps – and NEO 3.0 is the crucial next step in this process.

Thinking of diversifying your cryptocurrency holdings? Explore more of coinlist.me for resources and opinions on whether you should buy NEO today.

Featured image source: Flickr

Leave a Reply

avatar
  Subscribe  
Notify of
close-link

Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for difference (“CFDs”) is speculative and carries a high level of risk. Each investment is unique and involves unique risks.

CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.

Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance does not guarantee future results. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Your capital is at risk.

When trading in stocks your capital is at risk.

Past performance is not an indication of future results. Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Investing is not suitable for everyone; ensure that you have fully understood the risks and legalities involved. If you are unsure, seek independent financial, legal, tax and/or accounting advice. This website does not provide investment, financial, legal, tax or accounting advice. Some links are affiliate links. For more information please read our full risk warning and disclaimer.